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Candlestick Analysis

S&P sellers kick in, but the market remains strongLast week was marked by some selling activity. As anticipated, sellers took advantage of temporary bullish exhaustion and attempted to push the market down. A strong sell-off occurred on Wednesday, with the market losing 1.2%. However, this sharp decline did not see much follow-through, as the price found strong support at the top of the previous consolidation zone ( 574.7 ). On Friday, buyers even attempted to set a new daily high, but they were unable to maintain it through the close. All of this leads me to believe that the sellers are not particularly strong, and we remain in a broadly bullish environment. A few key points supporting this bullish outlook include: 1. The weekly uptrend is still intact, and there is ample room for this weekly higher low. 2. There is relative strength in "risk-on" sectors (XLK, XLY), suggesting that bullish sentiment hasn't completely faded. While we might see some short-term rotation within the 584.5–574.4 range, defined by two daily candle wicks (Wednesday and Friday), the long-term outlook remains decidedly bullish. This week, important economic data will be released, along with earnings reports from major tech companies. This is likely to cause increased volatility, but unless there are major negative surprises, bullish sentiment should remain solid.
AMEX:SPYLong
by hermes_trisme
Following lines interpretation of the patterns Good evening sirs , today we will be doing analysis of candlesticks with pivot points and cycles. Please be sitting in your seats to receive it well better! for further instructions see attached notes see attached notes for further instructions see included instructions for notes to further instructions see further instructions for attached notes regarding further instructions on how to see attached notes (that may or may not contain) further instructions.
by Tech-Temptress
Tesla on its way to 500NASDAQ:TSLA Telsa finally entered in the strongest Elliot Wave there is: iii of 3 of (3) ..... almost nothing can stop the stock now (!) Additional weekly 3 candle pattern made a "Mornign Doji Star" , also a very bullish occurence: normally we see a trend change in 78% of times and according to Bulkowski - And the height of the pattern was huge - So expect a very strong coming Rally ..... last week was only the Start! Also in weekly Candle pattern we can see a Bullish Engulfing - Strong down after 10/10 Event and this week a rise of 27% - This is a very seldom strong Bullish Engulfing and we can expect many weeks of rise into Year End in my opinion! Friday we went over the Neckline of the INVERSE HEAD&SHOULDER - The target points to 500, which gives us a new ALLTIME HIGH (!) And if Elons prediction of 25% to 30% growth will Happen next year, Profit will increase by 50% ….. WHICH GIVES THE TESLA STOCK A RISE OF MINIMUM 100% next year (!)
NASDAQ:TSLALong
by Rolixc
EurCad could rise 200+ pipsSince late August 2022, EUR/CAD has been in a bullish trend, gaining approximately 1,000 pips. However, after reaching a local high in early August 2024, the pair began trading within a range, encountering clear resistance around the 1.5150–1.5200 zone. Last Thursday, the pair rebounded from range support, forming a strong bullish engulfing candle on the daily chart, which suggests a promising outlook for continued upward movement. I am looking to buy on dips in EUR/CAD with a target around 1.5200, while the trade setup will be negated if the price falls below last week’s low. A confirmed bullish signal would be a daily close above 1.5000.
Long
by Mihai_Iacob
5
COALINDIA Q2 FY24 Earnings Report: Slowing Growth but Dividend P🔴 COALINDIA Q2 FY24 Earnings Report: Slowing Growth but Dividend Play Ahead 🔴 Overview: COALINDIA Q2 FY24 results, announced on October 25 after market close, reveal a slowing growth trajectory with YoY declines in profit and revenue. Although the company remains profitable, the market sentiment may be dampened by these lower earnings. Earnings Summary: Net Profit: ₹6,289 crore, down 21.9% YoY (compared to ₹8,048.6 crore last year) Revenue: ₹30,672.9 crore, down 6.4% YoY EBITDA: ₹8,617 crore, down 14.2% YoY, with a margin of 28.1% Interim Dividend: ₹15.75/share announced, Record Date: November 1, 2024 Technical Levels: Current Price: ₹461 (as of October 25 close) Resistance Levels: ₹507, ₹496, ₹486, ₹475 Support Levels: ₹456, ₹436, ₹426, ₹405, ₹375 Suggested Trading Strategy While COALINDIA’s earnings reflect slowing growth, the stock remains attractive due to the high dividend payout. Here’s a balanced approach: Sell on Rise: The weak earnings growth suggests potential selling pressure. Consider reducing positions if the stock tests upper resistance levels (₹475-₹507). Dividend Strategy: Muhurat trading on November 1 (Diwali) offers a unique buy opportunity for dividend eligibility through the T+1 settlement system. Entering near support levels around ₹456 could allow for dividend capture by the November 5 settlement. Conclusion: The focus remains on capturing dividend benefits during Muhurat trading while monitoring for price dips to support levels. Despite lower YoY performance, Coal India’s profitability and dividend yield make it viable for strategic positioning. Disclaimer: I am not a SEBI-registered advisor. This analysis is for educational and informational purposes only and should not be construed as financial advice. Please conduct your own research or consult with a SEBI-registered investment advisor before making any investment decisions. Trading and investing in the stock market involves risks, and you should assess these risks based on your financial situation and risk tolerance.
NSE:COALINDIA
by Fight_Bulls_vs_Bear
EURUSD 27/10/24EUR/USD has shown a continuous downward movement this week, which aligns with the institutional trend we discussed last week. Although there was a brief push above the recent high, there is a chance for the price to move slightly higher before resuming its path. We’ve highlighted key areas of interest. One is a supply zone where we expect the price to react, potentially targeting liquidity to the left. Additionally, there is a potential reaction point at the previous high, along with a liquidity target below. Our short-term bias is bullish, but we maintain a long-term bearish outlook, as we have for the past month. Keep an eye on fundamentals, and avoid buying in this market since the overall trend is still downward. Remember to follow the "Keep It Simple" approach, and only take trades with a clear entry signal. Trade safe and always stick to your plan.
by PipSurfingSociety